Learn about the global Water Heaters market through The Business Research Company, which provides information on water heaters market size, water heaters market drivers and restraints, water heaters market players, the COVID-19 impact on the water heaters market, and more.

The global water heaters market size is expected to grow from $29.47 billion in 2021 to $34.34 billion in 2022 at a compound annual growth rate (CAGR) of 16.5%.The growth in the market is mainly due to the companies rearranging their operations and recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges. The water heater market is expected to reach $53.58 billion in 2026 at a CAGR of 11.8%.

Rapid urbanization is expected to contribute to the growth of the water heaters market in the forecast period.

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The water heaters market consists of sales of water heaters. A water heater is a device used for heating water above its ambient temperature, used generally for domestic purposes.

Global Water Heaters Market Segments Include:
By Product Type: Solar Heaters, Electric Heaters, Gas and Propane Heaters, Geothermal Heaters

By End-User: Residential, Commercial, Industrial

By Distribution Channel: Supermarket/Hypermarket, Specialty Stores, E-Commerce, Others

By Geography: The market is segmented into North America, South America, Asia-Pacific, Eastern Europe, Western Europe, Middle East and Africa. Among these regions, Asia Pacific was the largest region in the water heaters market in 2021.

Water heater manufacturers are increasingly producing energy-efficient products to reduce carbon footprint and enable energy savings for the consumers. The rise of energy-efficient appliances can be attributed to the stringent government regulations on electric home appliances and advances in technology. Energy efficient appliances are designed to utilize minimum energy to complete the required task. Currently, over 80 countries have standards and labels for energy efficient appliances.

TBRC’s water heaters market report covers:

Major Market Players: Siemens AG, Bajaj Electricals Ltd, Bradford White, Rinnai, HTP, Bradford White, Rheem Manufacturing Co, Heat Transfer Products Inc, and Bradford White Corp.

Regions: Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa.

Countries: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.

Time Series: Five years historic (2016-21) and ten years forecast (2022-2026-2031)

The Water Heaters Global Market Report 2022– Market Size, Trends, And Global Forecast 2022-2026 is one of a series of new reports from The Business Research Company that provides water heaters market overviews, analyzes and forecasts market size, share, water heaters market players, water heaters market segments and geographies, leading competitor revenues, profiles and market shares.

TBRC’s water heaters market report identifies top countries and segments for opportunities and strategies based on market trends and leading competitors’ approaches.

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